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A Checklist to Starting a Value-Added Dairy Foods Business

By Kerry E. Kaylegian
 
There are several things to consider when starting a Value Added Dairy business, such as marketing, manufacturing, and on-farm production to help launch your successful business!
 
successful business
 
Marketing
  • Perform consumer market research. Who are your potential customers? What are their needs?
  • Determine your marketing mix. What is your product line?
Manufacturing
  • Define your product. What will you make? How much will you make?
  • Define how you are going to make your product. Research manufacturing processes and key process parameters.
  • Define the facility and equipment needs to make, store, and distribute your product.
  • Get regulatory approval for your facility.
On-Farm Production
  • Determine how much milk you will need. Consider that you can use 100% of your milk production; a portion of your milk and market the remainder; or purchase milk from another producer.
  • Plan for the future. If your value-added product attribute depends on the production system, then plan for the transition.
Business Planning
  • Plan for management of both businesses. Will the farm and the value-added business be managed separately or together?
  • Develop a business plan that includes: business goals and strategies, a financial plan, and an HR plan, a marketing plan, and a processing plan.
  • Perform an investment analysis and project cash flow. These will allow you to assess the profit potential.
  • Build a good advisory team.
A Successful and Sustainable business is the result of a solid understanding of your markets and the technology needed to make your products, and a commitment to the highest quality farming, manufacturing, and business practices. 
Source : psu.edu

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Marty Seymour, Industry and Stakeholder Relations, Farm Credit Canada

Not long ago, the Barton Report put agriculture in the spotlight, as a sector where Canada has the potential for substantial growth, and an opportunity to become the trusted global leader in safe, nutritious, and sustainable food in the 21st century.

And now, as we face a global pandemic, agriculture is once again in the spotlight as an essential service – providing food, fuel and fibre. How can agriculture lead Canada’s economic recovery? How can agriculture become a global powerhouse and trusted leader? And, how can we best position our farmers for success?

Marty Seymour, FCC’s Director of Industry and Stakeholder Relation talks about lessons learned, new ideas and future opportunities from 2020 for the Canadian agriculture industry.